Central Bank of Ireland

Wednesday, 15 November 2017

Questions (110)

Pearse Doherty

Question:

110. Deputy Pearse Doherty asked the Minister for Finance the status of the Central Bank engagement with a bank (details supplied) regarding the behaviour of a company; and if he will make a statement on the matter. [48327/17]

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Written answers

Minister for Finance

While the Central Bank cannot comment on individual interactions with regulated entities, I am informed by the Bank that it is engaging with Ulster Bank Ireland DAC (Ulster Bank) in relation to this matter.

In November 2016, Royal Bank of Scotland (RBS) announced a complaints process and refund of complex fees for SME customers in Global Restructuring Group (GRG) and indicated publically that “a customer is in-scope for the new complaints process if they were a small or medium sized enterprise under the control of GRG in the United Kingdom or Republic of Ireland between 1 January 2008 and 31 December 2013”.

Ulster Bank wrote to relevant customers in the Republic of Ireland earlier this year. The GRG Customer Helpdesk can be contacted by emailing GRGCustomerHelpdesk@rbs.co.uk or by calling ROI 1800 882 779 (or International 0044 184 222 6142).

The Central Bank encourages all GRG customers who have concerns or issues to fully engage with the complaints process, which I expect the Central Bank to oversee. More information is available at:

http://digital.ulsterbank.ie/business/grg-announcement.html.